- Home
- News
- Articles+
- Aerospace
- Agriculture
- Alternate Dispute Resolution
- Banking and Finance
- Bankruptcy
- Book Review
- Bribery & Corruption
- Commercial Litigation
- Competition Law
- Conference Reports
- Consumer Products
- Contract
- Corporate Governance
- Corporate Law
- Covid-19
- Cryptocurrency
- Cybersecurity
- Data Protection
- Defence
- Digital Economy
- E-commerce
- Employment Law
- Energy and Natural Resources
- Entertainment and Sports Law
- Environmental Law
- FDI
- Food and Beverage
- Health Care
- IBC Diaries
- Insurance Law
- Intellectual Property
- International Law
- Know the Law
- Labour Laws
- Litigation
- Litigation Funding
- Manufacturing
- Mergers & Acquisitions
- NFTs
- Privacy
- Private Equity
- Project Finance
- Real Estate
- Risk and Compliance
- Technology Media and Telecom
- Tributes
- Zoom In
- Take On Board
- In Focus
- Law & Policy and Regulation
- IP & Tech Era
- Viewpoint
- Arbitration & Mediation
- Tax
- Student Corner
- ESG
- Gaming
- Inclusion & Diversity
- Law Firms
- In-House
- Rankings
- E-Magazine
- Legal Era TV
- Events
- News
- Articles
- Aerospace
- Agriculture
- Alternate Dispute Resolution
- Banking and Finance
- Bankruptcy
- Book Review
- Bribery & Corruption
- Commercial Litigation
- Competition Law
- Conference Reports
- Consumer Products
- Contract
- Corporate Governance
- Corporate Law
- Covid-19
- Cryptocurrency
- Cybersecurity
- Data Protection
- Defence
- Digital Economy
- E-commerce
- Employment Law
- Energy and Natural Resources
- Entertainment and Sports Law
- Environmental Law
- FDI
- Food and Beverage
- Health Care
- IBC Diaries
- Insurance Law
- Intellectual Property
- International Law
- Know the Law
- Labour Laws
- Litigation
- Litigation Funding
- Manufacturing
- Mergers & Acquisitions
- NFTs
- Privacy
- Private Equity
- Project Finance
- Real Estate
- Risk and Compliance
- Technology Media and Telecom
- Tributes
- Zoom In
- Take On Board
- In Focus
- Law & Policy and Regulation
- IP & Tech Era
- Viewpoint
- Arbitration & Mediation
- Tax
- Student Corner
- ESG
- Gaming
- Inclusion & Diversity
- Law Firms
- In-House
- Rankings
- E-Magazine
- Legal Era TV
- Events
CCI Permits NIIF To Acquire Additional Stake In Ather Energy
The deal was cleared under the Green Channel route
The Competition Commission of India (CCI) has approved the proposal of the National Investment and Infrastructure Fund (NIIF) to acquire an additional stake in Ather Energy.
The CCI order read, "The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather.”
India-Japan Fund (IJF), managed by NIIF, focuses on investing in environmental sustainability, and low-carbon emission strategies and promotes investments by Japanese companies in India.
The transaction will help IJF to further its goals by creating value for the broader market for electric two-wheelers, clean mobility transport solutions, and technology-led last-mile transport vehicles.
Bengaluru-based Ather designs and develops electric scooters, while the India-Japan Fund (IJF) is a Securities and Exchange Board of India (SEBI)-registered alternative investment fund. It invests in environmental sustainability and low-carbon emission strategies and aims to enhance Japanese investments in India.
The fund represents a strategic and economic partnership between the governments of Japan and India.
The deal does not give rise to any horizontal, vertical, or complementary overlaps.
The CCI stated, "The transaction does not require the Commission to define any relevant markets, as it is unlikely to cause any appreciable adverse effect on competition.”
Since the combination was notified under the green channel, a transaction that does not raise the risk of an appreciable adverse effect on competition, is approved on being intimated to the fair-trade regulator.
Recently, Ather became a unicorn after closing a Rs.600 crore (USD 71 million) funding from NIIF, its existing investor. It is now the country's fourth unicorn this year and second in the mobility space.
In June, Ather converted into a public limited company as part of its plans to soon go public.
NIIF first invested in Ather in May 2022. In July 2024, Ather’s loss widened to over 22 percent to Rs.1,059 crore in the fiscal year, even though its revenue remained flat.
The company's revenue for FY24 was Rs.1,789 crore against Rs.1,783 crore in the previous fiscal. Last year, the Hero MotoCorp-backed electric scooter maker's loss stood at Rs.864 crore.
In the electric scooter segment, its competitors are Ola Electric Mobility, TVS and Bajaj.